Elrond trading begins and IEO participants are up almost 10x

Elrond, the latest IEO from Binance began trading today. Opening at $0.0091 USD (14x IEO) and making an ATH of $0.01 USD (15.3x IEO) before cooling off.

At the time of writing, it is trading at $0.0062 USD which is around 9.5x the IEO price, making it still highly profitable for IEO participants even if they sell now.

This makes Elrond the 2nd highest current ROI for Binance IEOs currently.

Crowd's reactions

• Erd going 1200sat
• It is good time to buy ERd
• erd is only 40 mill Mcap and volume only 100m, wait till volume hits 500 mill
• When Binance will start the ERD pump?
• Erd going to 10sats🙇‍♂

IEO vs Private sale recap

One interesting thing to note is the price difference between IEO participants and Private sale participants is only 30%. Considering how public token sale prices usually can be 50% - 100% from privates sale in the past, this is actually refreshing and a win for the public by levelling the playing field.

Feeling lucky?

The ratio of winning is getting tougher as the Elrond lottery saw increased demand:

Total lottery tickets: 97,817

Total winning tickets: 10,833

Ratio of winning tickets: 11.07%

In comparison, Harmony's lottery had a ratio of winning tickets at 30.8%. If you are one of the winners, consider yourself really lucky to be part of the 11%! Future IEOs could see even more demand and winning ratio shrinking further, given the track record of Binance IEOs being highly lucrative.

Trading frenzy

To celebrate Elrond trading launch, Binance also announced that they will be airdropping Elrond for Binance DEX traders that meet a level of trading volume.

As a celebration of the launch, we will airdrop 77,000,000 Elrond ERD tokens to Binance DEX users in the next 5 days.

All Binance Chain addresses that reach a trading volume of 600,000 or more ERD tokens (this includes buys & sells) on Binance DEX during each full day, while also holding a minimum of 100,000 ERD and 10 BNB in their addresses along the day, will equally share a pool of 15,400,000 ERD tokens. The recorded trading volume on each address will reset daily at 00:00AM.

ERD tokens rewards for each day will be airdropped to qualifying addresses at approximately 06:00 AM (UTC) the following day. This activity will be held each day for 5 consecutive days.

Will history repeat?

Given the trading incentive, we should see a good amount of volume and price action over the next few days. And if Harmony's initial trading activity since launch is of any indication, it might not be surprising if Elrond makes its way back up to ATH and beyond. Only thing stopping this would be BTC going parabolic again.